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Investor Files Suit Against Cullen Breen

Cullen Breen (CRD #: 5818590), a broker formerly registered with LPL Financial, allegedly engaged in excessive trading, according to his BrokerCheck record, accessed on May 2, 2023. Read on if you have questions about his alleged conduct as a broker.

Pending Civil Suit

On March 21, 2023, an investor filed a civil suit alleging that Cullen Breen engaged in excessive trading in their managed account. This suit is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles contain information such as investors’ tax status, risk tolerance, and investment goals.

Investments can also be quantitatively unsuitable. Excessive trading generates fees and commissions that can cut into clients’ returns so severely that the investor doesn’t make a profit.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

Cullen Breen has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

He previously worked for LPL Financial (CRD#:6413) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Cullen Breen and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. 

 

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